An industrial gas turbine is a combustion engine, which is used to generate mechanical energy from various fuels such as natural gas or liquid fuels. This generated mechanical energy is utilized to drive an integrated generator that produces electrical energy.
Growth in demand for energy from various industries fuels the market. In addition, the flexibility to use different fuels to drive the turbines is projected to boost the growth of the market. However, the stringent environmental regulations associated with gas turbines is expected to hinder the growth of the market during the forecast period.
The global industrial gas turbine market is segmented based on product, capacity, technology, application, and geography. Based on product, the market is divided into heavy duty and aeroderivative. Based on capacity, it is classified into less than 70 MW, 70300 MW, and above 300 MW. Based on technology, the market is bifurcated into open cycle and combined cycle. Based on application, the market is categorized into power generation, oil & gas, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key players operating in the market include Ansaldo Energia, Bharat Heavy Electricals Limited, General Electric, Harbin Electric International Company Limited, Kawasaki Heavy Industries Ltd., Man Diesel & Turbo, Mitsubishi Hitachi Power Systems Ltd., Opra Turbines B.V., Siemens, and Vericor Power Systems.
- The report provides an in-depth analysis of industrial gas turbine industry to identify the potential investment pockets.
- The key drivers, restraints, and opportunities are provided in the report.
- Porters Five Forces model helps analyze the potential buyers & suppliers and the competitive sketch of the market, which is expected to guide the market players to develop strategies accordingly.
Industrial Gas Turbine Market Key Segments:
- Heavy Duty
- <70 MW
- 70-300 MW
- >300 MW
- Open Cycle
- Combined Cycle
- Power Generation
- Oil & Gas
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East
Key Market Players
- Ansaldo Energia
- Bharat Heavy Electricals Limited
- General Electric
- Harbin Electric International Company Limited
- Kawasaki Heavy Industries Ltd.
- Man Diesel & Turbo
- Mitsubishi Hitachi Power Systems Ltd.
- Opra Turbines B.V.
- Vericor Power Systems